Mortgage Rate Trend Index

Will rates go up, down or remain unchanged?

While the dour mood isn't likely to lift right away, the outright fear that has been driving mortgage rates hinges on Friday's employment report. The pace of private-sector job growth is slow and uneven, but it takes worse than that to justify 10-year Treasuries staying below 3 percent.

Holden LewisSenior reporter, Bankrate.com

I'm voting "up," not because I have a strong belief that rates will rise, but in the belief that, when rates rise, they'll do so swiftly. Lock your excellent rate now and don't worry whether rates will drop further. Either way, you still get a great deal.

Cameron FindlayChief economist, LendingTree.com, Charlotte, N.C.

Regardless of the recent direction toward historic lows, you cannot ignore the fundamentals for mortgage investors that will control the securitized price. Higher prices are only driven to these levels, given demand for the assets is strong. The only reason it's strong is because the rest of the world lacks any real good debt investment alternatives. Don't mistake that for the idea that mortgage-backed securities in the U.S. exhibit real value. Today I'd argue they are extremely overvalued and poised for a huge price decrease, resulting in a rate increase.

With so much buying of the bonds/securities along with the stock market and S&P being down the past week, investors will look to take advantage of bargain stocks. This will take money away from the mortgage-backed securities, causing a slight increase in rates. So, instead of them being at 50-plus-year lows, they will be 45-plus-year lows. This truly is an amazing time to leverage your money and lock in a rate.

Chris SipeSenior loan officer, Embrace Home Loans, Frederick, Md.

These rates are absolutely amazing right now! There is a "floor" here somewhere and if we are not there yet, we are very close. Things that fall usually bounce off "floors," and I expect rates to do the same, moving modestly higher in the near future.

Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.

Bankrate.com is an independent, advertising-supported publisher and comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on certain links posted on this website.